How to Finance a Business Car

First impressions count and this as true in your professional life as it is in your personal life. Making sure you appear professional is just another added pressure when you represent a company and it can extend far beyond simply what you decide to wear.

What you drive can sometimes be the first thing a potential client or business partner sees so it’s crucial that your vehicle is presentable. While the big three German manufacturers, Audi, Mercedes-Benz, and BMW, have become long become synonymous with successful businesspeople, this kind of luxury doesn’t come cheap. Even the best first impression isn’t worth putting yourself in debt, so what if there was another way finance a business car?

Why You Should Consider Leasing

There are three primary ways of purchasing a vehicle: you can buy it outright (either new or used), take out a hire purchase contract, or lease the vehicle. A leasing contrast works like a hire purchase as you pay a monthly fee to the lender. Unlike a hire purchase, though, you’ll never actually own the vehicle outright, even at the end of the contract. The main advantage of leasing a car rather than buying it is it gives many people the opportunity to drive cars that would otherwise be out of their price range. The relatively short-term agreements also mean that you’ll never be stuck with a vehicle you dislike for more than a few years.

How It Works

Leasing terms usually operate over a period of two-to-four years. The monthly rate that you’ll pay will take into account the length of the contract, the annual mileage you expect to drive, and the make and model of your desired vehicle. Certain vehicle providers, like www.leasecar.co.uk, can also incorporate breakdown cover into your monthly fees for a premium. When budgeting your car, it’s important that you also factor in the cost of insurance. Because every customer is different—regarding their age, driving history, occupation, etc.—it would be infeasible for any lender to also include these factors into their monthly rates. You should take out full comprehensive cover on any vehicles you decide to lease.

In an increasingly competitive career path, finding a solution that could help to alleviate some of the stress of day-to-day life is always welcome. Consider all of the options available to you the next time you’re in the market for a new car.